40-36-04. Refunding bonds authorized by resolution - Adoption - Taking effect

40-36-04. Refunding bonds authorized by resolution - Adoption - Taking effect Refunding bonds shall be authorized by resolution of the governing body of a municipality. Such resolution may be adopted at a regular or special meeting, and at the same meeting at which it is introduced, by the affirmative vote of a majority of all of the members of the governing body, and shall take effect immediately upon the adoption thereof. No other proceedings or procedure of any character whatever shall be required for the issuance of refunding bonds by the municipality.